same thing happens to us, we have done away with most of the inter-family gifts, but we get stuff for bro-in laws kids, and our parents, but for some reason it ends up being a big fuss about mid December.
We dont do christmas at anyones house anymore, and we dont want, expect anyone to spend the night at ours, we try and get together the weekend before, that has made the last two christmas's much better.
Christmas eve tends to be fairly hectic, bringing the toys up from the basement, making sure kids are zonked out, you realized a few presents need to be wrapped, then you finally get to bed and realize you forgot to do stockings!
but I have to say when you hear the 6 year old screaming for everyone to get up on christmas morning it does make it all a little better.
Since I have a 10 year old (an 8 year old and a 6 year old) and i doubt the 10 year old beleives in "santa" anymore I have tried to realize that I probably only have 3 maybe 4 christmas's left with kids who still beleive that jive, so I am going to try and enjoy them, I dont think it will be near as fun watching teenagers open gifts as it is little kids.